Wealthfront Advisers LLC Raises Stake in Arch Capital Group Ltd. $ACGL

Wealthfront Advisers LLC boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 52,791 shares of the insurance provider’s stock after buying an additional 2,696 shares during the period. Wealthfront Advisers LLC’s holdings in Arch Capital Group were worth $4,807,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Nuveen LLC acquired a new position in shares of Arch Capital Group during the 1st quarter valued at $399,651,000. JPMorgan Chase & Co. raised its position in Arch Capital Group by 30.5% in the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider’s stock valued at $718,522,000 after purchasing an additional 1,743,945 shares during the period. GQG Partners LLC acquired a new position in shares of Arch Capital Group during the first quarter worth about $71,769,000. Champlain Investment Partners LLC purchased a new stake in shares of Arch Capital Group in the first quarter worth about $48,040,000. Finally, Amundi grew its stake in shares of Arch Capital Group by 32.3% in the first quarter. Amundi now owns 1,683,211 shares of the insurance provider’s stock valued at $162,060,000 after buying an additional 410,825 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $84.72 on Wednesday. The stock has a market capitalization of $31.62 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 4.97 and a beta of 0.47. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $106.63. The company’s 50-day simple moving average is $90.19 and its 200-day simple moving average is $90.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $1.01. Arch Capital Group had a return on equity of 16.76% and a net margin of 20.96%.The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the firm posted $1.99 earnings per share. Equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Transactions at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the transaction, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on ACGL. Wells Fargo & Company boosted their price target on Arch Capital Group from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a research report on Tuesday. Keefe, Bruyette & Woods upped their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $98.00 price target on shares of Arch Capital Group in a research note on Tuesday. Finally, Wolfe Research assumed coverage on shares of Arch Capital Group in a report on Monday, September 15th. They issued a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Arch Capital Group has an average rating of “Hold” and an average price target of $109.00.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.